34017 Indian Queen Ln · Millville, DE 19939

$295,000

3 bd · 2.0 ba · 988 sqft · SingleFamily public records · 4 Days on market

Built 1983 10,454 sqft lot $299/sqft · at area comps Est $433k · 32% under $10/mo HOA · 1% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks MLS

Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

Key facts

• 0.24 acre lot
• Built 1983
• Listed 4 days

Property features AI

Finance

• Other: Ownership: Fee simple
• HOA & community: HOA fee $120 annually

Exterior

• Parking: Driveway
• Utilities: Well water; Mound septic system; Electric power
• Home design: Detached structure; Above-grade finished area approximately 1,400; Year built source: Assessor
• Construction: Frame construction; Block foundation; Other structures above grade and below grade
• Exterior features: Lot dimensions approximately 80 x 135; Not in a federal flood zone; No tidal water on the lot; Outside city limits; Directions: Route 26 into Blackwater Village

Interior

• Bedrooms: One bedroom on the main level; Two bedrooms on the first upper level
• Bathrooms: One full bathroom on the main level; One full bathroom on the first upper level; Two full bathrooms total
• Heating & cooling: Central heating; Electric heating; Electric cooling; Electric hot water
• Interior features: Estimated living area

🏷️ Possibly a rental listed for sale. The $295,000 price doesn't fit this home's estimated sale value (~$433,016) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (33.4% below list).
• Recommended offer: $196k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.4% in Millville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#49 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: schools F, amenities F, commute F.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 108 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,374 (33.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.67% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• GRM: 12.5

CMA / ARV

• ARV (median comp): $433,016
• List price: $295,000
• Delta: -31.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34085 Chippiwa Dr	0.25mi	3/2.0	920 (-7%)	10mo	$300,000	$326	69
34047 Shawnee Dr	0.10mi	3/2.0	1,092 (+10%)	12mo	$310,000	$284	68
34214 Vines Creek Rd	0.66mi	3/1.0	960 (-3%)	5mo	$204,800	$213	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.80×
• Total profit: $148,947
• Equity at exit: $265,759

10-year hold

• IRR: 20.0%
• Equity multiple: 6.42×
• Total profit: $447,400
• Equity at exit: $573,120

Cash invested: $82,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 70 Landlord-Friendly
• State Delaware: 70 Landlord-Friendly · D+7
• County: — inherits STATE
• City: — inherits STATE

Court of Common Pleas hears L&T; moderate-paced. No state rent control.

Methodology + full state rankings →

ZIP-level market 19939

• Home prices YoY: 9.4%
• Active inventory: 108
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,964 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$123
• HOA: −$10
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-181

Break-even live

Break-even rent $2,193

Max offer price $262,938

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $10 · $120/yr
• Likely covers: watergas

Listing history 25 events

1. 2026-05-07
   status Pending 1034-char remark
2. 2026-05-03
   listed $280,000 Active 1034-char remark
3. 2024-07-10
   historical
4. 2024-06-19
   historical Active Under Contract
5. 2024-06-07
   listed $339,000 Active
6. 2024-06-02
   historical
7. 2023-12-04
   soldstatus $325,000
8. 2023-11-17
   soldstatus $325,000 Closed

   Show marketing remark (687 chars)

   Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

9. 2023-10-09
   status Pending

   Show marketing remark (687 chars)

   Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

10. 2023-10-03
    price $315,000

    Show marketing remark (687 chars)

    Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

11. 2023-09-11
    price $350,000

    Show marketing remark (687 chars)

    Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

12. 2023-08-17
    price $385,000

    Show marketing remark (687 chars)

    Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

13. 2023-07-24
    listed $400,000 Active

    Show marketing remark (687 chars)

    Check out this cute salt box, 2 bedroom, 2 bath home with a large loft that is less than 7 miles to Bethany Beach! Located in the community of Blackwater Village where HOA fees are only $10 per month, and one can enjoy multiple neighborhood docks that provide access to excellent crabbing and fishing in Blackwater Creek. The sale includes high end appliances including a Wolf Gas Range stove, Wolf Microwave, Viking Refrigerator, Miele Dishwasher, and washer and dryer. Recent updates include new carpet, new sun room floor, downstairs bathroom remodel, shed & deck recently constructed, new water heater, custom blinds, new lighting fixtures & paint throughout. Sold as is.

14. 2020-07-01
    soldstatus $185,000
15. 2020-07-01
    historical
16. 2020-06-30
    soldstatus $185,000 Closed
17. 2020-06-03
    status Pending
18. 2020-04-23
    price $199,000
19. 2019-12-07
    listed $208,000 Active
20. 2009-03-09
    soldstatus $145,750
21. 2009-03-09
    historical
22. 2008-10-10
    listed $159,900
23. 2008-10-10
    listed $159,900
24. 2007-12-20
    historical
25. 2007-04-16
    listed $249,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $635 · $53/mo
• Projected year-2 tax: $1,173 · $98/mo
• Expected delta: +$538/yr (+$45/mo · 84.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,565
• − Mortgage interest: −$16,525
• − Property taxes: −$635
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − HOA: −$120
• − Depreciation: −$8,582
• Taxable loss: −$7,542
• Est. tax savings @ 24.0%: +$1,810
• After-tax cash flow: $-368/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

Livability — Millville

• Score: 64/100
• State rank: #49
• US rank: #13839

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A Housing A Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,093
• Population (ZIP): 7,833

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 3% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 5% German 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.76%
• Current HPI: 312.7341
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+18.0% since first listed

26 events — show timeline

• 2026-05-07 Pending — BRIGHT MLS
• 2026-05-07 Price Changed $295,000 BRIGHT MLS
• 2026-05-03 Listed $280,000 BRIGHT MLS
• 2024-07-10 Listing Removed — BRIGHT MLS
• 2024-06-19 Contingent — BRIGHT MLS
• 2024-06-07 Listed $339,000 BRIGHT MLS
• 2024-06-02 Coming Soon — BRIGHT MLS
• 2023-12-04 Sold (Public Records) $325,000 Public Records
• 2023-11-17 Sold (MLS) $325,000 BRIGHT MLS
• 2023-10-09 Pending — BRIGHT MLS
• 2023-10-03 Price Changed $315,000 BRIGHT MLS
• 2023-09-11 Price Changed $350,000 BRIGHT MLS
• 2023-08-17 Price Changed $385,000 BRIGHT MLS
• 2023-07-24 Listed $400,000 BRIGHT MLS
• 2020-07-01 Sold (Public Records) $185,000 Public Records
• 2020-07-01 Listing Removed — BRIGHT MLS
• 2020-06-30 Sold (MLS) $185,000 BRIGHT MLS
• 2020-06-03 Pending — BRIGHT MLS
• 2020-04-23 Price Changed $199,000 BRIGHT MLS
• 2019-12-07 Listed $208,000 BRIGHT MLS
• 2009-03-09 Listing Removed — BRIGHT MLS
• 2009-03-09 Sold (MLS) $145,750 BRIGHT MLS
• 2008-10-10 Listed $159,900 BRIGHT MLS
• 2008-10-10 Listed $159,900 BRIGHT MLS
• 2007-12-20 Listing Removed — BRIGHT MLS
• 2007-04-16 Listed $249,900 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $635 · -3.3% YoY. Source: county tax records.